Morning Brief 6.16.20: Apple Card adds incentives for tech buyers

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The information you need to start your day, from PaymentsSource and around the web:

Card lure

Apple is extending no-interest installment payments for its technology in a way that encourages use of its branded credit card.

Consumers can use the Apple Card to buy Macs, iPads and other Apple products over six or 12-months, reports Engadget, adding people who qualify for an Apple Card but do not have one yet can apply during checkout. Apple is also offering a three percent discount. Apple already offered installment payments for the iPhone.

Samsung and Google are also working on payment cards, though Google and Samsung are developing debit cards, while Apple's credit card is issued through a partnership with Goldman Sachs.

Light pad

ATM manufacturer Genmega is trying to patent a UV light cleaning system for ATMs that are designed to combat the spread of disease.

Called Vscan, it uses an encrypting PIN pad that the company contends kills bacteria. UV light is considered one way to mitigate the coronavirus, leading technology firms to offer technology that uses the light to disinfect computing devices.

Early in the outbreak, Chinese banks used UV light to sanitize cash before putting it back in circulation.

Influencing the influencers

Mastercard has partnered with U.K. fintech Lanistar to produce a range of financial services aimed at younger consumers.

Lanistar will offer early adopters and online influencers a chance to own a stake in the company as part of its branding and $1 billion valuation strategy.

Lanistar in May drew a seed round of about $2.5 million, and plans to have about 200 staff. It's similar in style to firms such as Moven and Simple in its approach to consumers looking for an "alternative" to banking.

No lanes

Walmart is experimenting with removing cashier lanes entirely, outfitting a store near its Arkansas headquarters with only self-checkout. The big box chain hopes to see if the model will speed checkout while reducing interaction, a move to lesson crowds as a coronavirus safety measure, Fox reports.

The store won't completely abandon checkout, and will make staff available to help with checkout at the kiosks.

From the Web

Tonik raises $21 million to launch digital bank in the Philippines
TECHCRUNCH | Mon June 15, 2020
Tonik Financial, a two-year-old startup in the Philippines, said on Monday it has raised $21 million in a new financing round to launch its digital bank aimed at the Southeast Asian market by September this year.

UK Fintech Bank Revolut Will Give Customers ‘Legal’ Ownership Over Cryptos – But With a Caveat
COINDESK | Mon June 15, 2020
Fintech bank Revolut said it will cede its status as the “legal owner” of Revolut’s five available cryptos over to its clients who purchase them next month.

Coronavirus may not kill cash, but it will change payments forever
THE TELEGRAPH | Tue June 16, 2020
The pandemic will not only force customers to change the ways they transact, but it will also create an environment where people start to expect these faster and more intuitive ways to pay as the norm.

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